A Golden couple has been accused of running a $17 million Ponzi scheme that allegedly guaranteed returns of 48 to 120 percent on investments in diamonds and the trading of international notes.
The couple, Richard Dalton, 65, and Marie Dalton, 60, allegedly operated a company called Universal Consulting Resources LLC, which was able to attract at least 130 investors in 13 states.
A complaint charging the Daltons with conspiracy to commit mail fraud, wire fraud and interstate transportation of stolen funds was filed in U.S. District Court in Denver on Aug. 4 and unsealed Wednesday.
The two were arrested in Atlanta and will be returned to Denver. The U.S. Attorney’s Office in Topeka, Kan., has been appointed special prosecutor.
The government alleges the company operated a Ponzi scheme in which investor money was commingled and used to pay out profits to early investors to create the appearance to new investors that the investments were doing well.
The complaint alleges that the Daltons used the investor funds to pay $936,000 for their Golden home. They also allegedly used the funds to buy a $35,000 Toyota Highlander and make a $5,000 deposit on their daughter’s wedding.
It also alleges that when the couple learned they were the focus of a U.S. Securities and Exchange Commission investigation they stopped making payments to investors and falsely represented to investors that they could expect further payments soon.
When they learned of the investigation, the couple allegedly falsely told investors that the company’s European trader was switching banks; the company was liquidating a cache of diamonds to pay investors back; and a plane carrying the diamonds had been forced to land in Amsterdam because three engines had gone out. They also allegedly told investors they had discovered they were holding 18,000 fake diamonds.
The couple was sued by the SEC in a civil complaint filed in Denver in November 2010.
Howard Pankratz: 303-954-1939 or hpankratz@denverpost.com
